Adani Ports and Special Economic Zone (APSEZ) has commenced roadshows for its proposed 10-year dollar bond, which is likely to be a 144A/Regulation S issue according to bankers close to the deal.

Adani Ports and Special Economic Zone (APSEZ) has commenced roadshows for its proposed 10-year dollar bond, which is likely to be a 144A/Regulation S issue according to bankers close to the deal. (PTI)

Adani Ports and Special Economic Zone (APSEZ) has commenced roadshows for its proposed 10-year dollar bond, which is likely to be a 144A/Regulation S issue according to bankers close to the deal. “The roadshows would continue for two days. Considering there is a dearth of dollar bond issues from India, investor appetite is likely to be significant,” said a banker aware of the issue.
Moody’s Investors Service has assigned a Baa3 rating to the proposed issue. “APSEZ will apply the proceeds of the USD bond issuance for capital expenditure and repayment of existing foreign currency commercial borrowings,” the ratings agency said in a release. “The roadshows are taking place in Hong Kong, Singapore and London,” another banker said. Bankers declined to comment on the targeted amount. Since it is a 144A/Reg S issue — in which investors from the US can also participate — the issue is likely to attract a decent demand. Citibank, Standard Chartered, Barclays and SBI Caps are the bankers to the issue.

Also Watch:

Bloomberg data shows APSEZ had issued dollar bonds in January2017 at a coupon rate of 3.95%. Prior to that the company had issued dollar bonds in July 2015 at the rate of 3.5%. Both the bonds have a maturity of five years. The 10-year US Treasury yield — used as a benchmark for pricing similar tenure issues — is currently trending close to 2.17%. The benchmark treasury yield has been on the rise since the end of last year. On Monday, the ratings agency had revised the outlook from negative to stable on the company’s Baa3 issuer and senior unsecured rating.

Saving Lives Is More Important Than Abstract Moral Concerns, Financial Incentives Should Be Used to Increase Organ Donation to save many lives, Consider Our financial reward that can change you and your family lives ( $470,000.00 USD ) For One organ donor that can save 8 lives Today.
Donate to Save many Lives Today
For more details
Call: 917795074566)
WhatsApp: 917795074566)
Bq-RgL